Online Forex Trading Course

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In this video:

I want to talk about the US election results and why I’m a technical trader. Let’s talk about those topics and more right now.

Hey there, Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 568.

Trump wins the US Election with a massive win.

So we’ve just had the results of the US election. This week has been a really good result. It’s been a positive result. there’s not going to be any indecision in the market now. we’re not going to get any delay in the result.

We’re not going to get any court action and recounts and all that type of thing. So from the markets point of view, it’s been a great result. And it’s been a good, strong, decisive, positive result. And that’s what the market needs and was looking for.

Quiet price action leading up to the election.

Now leading up to the US election, we’ve had a, like a quite a quiet couple of weeks, especially on the daily charts. And we’ve had that indecision and not really too much happening leading up to say, last week. And then the end of last week, we had the US monthly job news, and then the beginning of this week is all being quiet leading up to the election. Then, of course, you don’t want to be trading on the election day with potentially, you know, big moves or spreads widening and then we finally got the result and things are likely to now settle down again.

So it’s been a really interesting couple of weeks. You see the daily charts have been and the slightly longer timeframe charts like the 12 hours have been a little bit more indecisive. Not much happening there.

W1 and Shorter time frame chart trades  

However you take it out to bigger picture and the weekly charts. We’ve had some great results and then the shorter timeframe charts between, say, like the two and six hour charts, two, three, four, six hour charts.

We’ve seen some great results as well. So it’s really interesting that as a trader, you have to trade what the market’s giving you at the time.

Selling Silver on the W1 charts.

And an example would be, we’ve taken a couple of, sell trades on silver at the beginning of this week. So we’re talking, you know, like three days before the election results, we saw that XAG/USD and also, XAG/EUR were both dropping based off the weekly charts.

And so we took sell trades on both of those. We suggested to our clients, we took sell trades or, they should, look at some sell trades as well. And we’ve profited from those trades. Now, as a technical trader, I was into those trades on Monday my time or Sunday from the US. at the beginning of the week.

and so the charts were telling us from a technical point of view that Silver was going to drop. Now, how far it goes from now. I don’t really worry because I’m out of the trade for full profit. and now we’re looking for maybe another trade potentially might move back up again next week. Who knows. But we saw at the beginning of this week, before the fundamental results, we saw on the technicals that the silver was falling. We entered the trade. We’ve hit the profit target.

Metals dropped after the election result.

Now as a result of the US election, we saw a lot of the metals falling. We saw the US dollar strengthening. And that’s something that the fundamentals tell you.

You need to be willing to work at trading.  

But as you know I’ve just pointed out three days prior we already were in that position. We were shorting the metals such as Silver.

We were you know, we were long the US dollar as in shorting the silver US dollar. And so that’s exactly what we saw. so we would have seen, you know, the all of these things were pointing to the same thing on our charts long before the fundamentals. And we then, take this down to the shorter timeframe charts. We’ve seen some really good trades.

In fact, just on my webinar, yesterday, I took trades on the one hour, the two, the three and the four. And so we’ve seen some really good positions over the last couple of weeks on those shorter time frame charts as well. So it’s all about trading what you see and what the market is giving you.

But it’s all about trading the technical charts because they tell you in advance most of the time, what’s likely to happen on the fundamentals.

The charts tell us what was going to happen with the election.

So if you looked at that, you’d have seen that the result was likely to be good for the US. You would have seen, if you follow these things, that Trump was probably going to have a landslide victory.

Despite what the mainstream media in the press telling you. that’s why we don’t listen to those. That’s why we look at the charts and we we look at real news, not the, the mainstream news. And you can easily figure out what’s going on.

Now, if you’d like to, understand more about how we trade as technical traders, what I really encourage you to those two things.

My 17 minutes Masterclass and Book a Call.

One, have a look at my masterclass. It’s an on demand session. You can jump on that at any time if you’ve not already done so.

And number two, you can book a call with us and have a chat to see if we’re the right fit for each other. we don’t take on everybody. You’ve got to be the right sort of person, be in a position to want to trade properly and to invest in your education. And if you are, then great, we’re more than likely going to be a good match. But we’ll have a call and a chat with you first to see to make sure we can help you make sure that we’re right for each other.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a really good, high quality forex broker that offers all sorts of, markets, not just forex, but also the cryptos, the indices, the metals, commodities, I’ll put a link to Blueberry Markets. Their MT5 platform, is fantastic. And it offers all those additional, metals, but also things like XAG/EUR, not just XAG/USD, you know, against the pound against the Aussie, like that. So I against the Yen so you’ve got a lot more options there to again, come back to what I’ve mentioned about trading, what the charts are giving us, what the market’s giving us.

So if let’s say, for example, the, Silver you’re out in the XAG/USD we’re looking good like they were this week. You might not want to be trading XAU/USD or XAU/EUR because the silver’s were looking better. Or you may not want to be trading, say, XAG/JPY or the AUD or the GBP because the XAG/USD and the XAG/EUR were looking better. And that’s the beauty of having those multiple market options with a high quality broker like Blueberry Markets. So have a have a look at them and check them out as well.

Comments, Like & Subscribe.

I hope it helps. This is Andrew Mitchem at the Forex Trading Coach as always ask questions any topics you like me to cover on future videos and podcasts.

Just like this one? Just email me or leave a comment. my email address is [email protected]. That comes through to me personally, and I answer all emails personally as well. I’ll see you this time next week. Bye for now.

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In this video:

Is trading for everybody? Let’s talk about that really important topic and more right now.

Is trading for everybody?

Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 567.

Now, I’ve had a few interesting chats this week and I want to bring this to your attention and really want to say, look, is trading for everybody. the answer is absolutely not. And as a result of what I’ve experienced this week, I want to explain why I’m saying it’s not for everybody.

I received a call a few days ago from someone who lives here in New Zealand. He’s not a New Zealander. Believe he’s living here right now. And I had some doubts when I heard the conversation, and I ended up saying, look, I don’t think you should do this. I don’t think trading is for you.

And certainly we’re not a good match. he was, you know, it was all a little bit desperate, needing the money, potentially saying there was health issues. whether there was or not, I don’t know, but, you know, it was quite a sob story, and I’ve only got $300, and I heard it all, and I go, you know, I’ve heard this so many times over 20 years of trading and teaching.

This is not for you. You know, you’re not in a position mentally, potentially physically, financially to do this. And if you jump on board, it’s going to end badly because people like that, desperate for money, they’re not willing to put the time in.

Some people are just lazy.

You know, people can be very lazy, you know, so they just want a copy. In fact, I did say to him, look, you should probably just go and buy yourself a monthly subscription to a signal service, because I don’t think that you’re the type of person that’s going to be putting in the time, the effort, the commitment, to learn and now, important to note that just because you may not have, money today, that doesn’t matter.

The thing that we’re doing is we’re, teaching people how to trade properly, but you still need to put that time commitment effort into wanting to learn how to do it. If you can trade. You can trade on demo. You can trade on small live accounts. You can go through the prop firms, you know, there’s so many different ways to be successful without needing the funds to date.

Now, sure, if you come on board with us, you need some funds to invest in the coaching. You know, we’re not at the giving, our time, our knowledge, our expertise. you know, just for peanuts. You know, we’re posting trades every day without fail. We’ve done this since 2010. We’re on webinars, forums, all those type of things and a proven strategy.

So, yes, there has to be, you know, an upfront fee to do that. You know, we are not a charity. Let’s be let’s be clear about this. But when we have good successful traders, you will make your investment batches countless times over. And yeah, that knowledge, for the rest of your life. But coming back to this individual person just wasn’t going to be him, you know, it wasn’t going to work. And so the question comes, should everybody trade? Absolutely not.

You need to be willing to work at trading.  

You know, you’ve got to still put the time, the effort, the commitment, the willing to have ups and downs in the market. You know, if you come on board and you go, oh look I’m not making money after one month. Well that’s because you’re learning. You know, you’ve got to give yourself time.

You can’t go and go. I want to be a tennis player. I’m going to do lessons for a month. And then I think I’m going to be the world’s number one. You know? It’s just not real. So give yourself some time, some realistic expectations to learn up front.

Trading and Painting.

And just, this week, I was at a business meeting and I said, look, the best thing I can do as an advice to give someone who wants to look at trading is think of yourself as like a painter or decorator.

Everybody sees the finished result. They see the painted wall, the, you know, the wallpaper, the the whatever. It is the, you know, the the beautiful finish. They don’t see the preparation that goes into it behind the scenes, the sanding, the, you know, the filling up the cracks and holes and, you know, doing all the prep work underneath the boring bit, underneath that makes the finished result look good.

And trading is exactly the same. You have to put that time and effort and commitment and not. On a more positive note, if you all one of those people would love to talk.

Want to join us – Book a Call first.

So, if you’d like to come on board with us, what you can do is book a call with us. It’s the only way that you can come on board with us, because we want to make sure that we’re a good fit. So book a call with us using the link that I’ll put on here. We’ll have a chat, see if you’ll write for us, if we’re right for you, and if we, both agree, then it’s a good match. Then you know the call is yours to say. Well, look, I’d like to come on board or not. That’s up to you.

My 17 minutes Masterclass.

Have a look at my masterclass. And, if you add, I’ll put a link to that.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a very high quality broker, I can highly recommend Blueberry Markets. There. MT5 platform is, fantastic. I’ve taken trades just yesterday on the USD/MXN and and the, CHF/PLN and Ethereum. You know, some quite a more unusual.

You know, if we were talking five years ago, those, pairs wouldn’t have been available. But because of mt5 and the ability to have more pairs, more markets, they are and and so we’re taking trades based on the strategy, on the pattern, not so much what the market is. And they’re working. So have a look at blueberry markets if you want a good quality broker as well I’ll put a link to them here.

That’s it for now. just remember if you’d like to learn how to trade. We’ve been doing this for a long time, but you need to be the right type of person that wants to do it. And if you are, let’s talk.

This is Andrew Mitchem here at the Forex Trading Coach. I see you this time next week. Bye for now.

In this video:

Should you trade the European and US Trading Sessions in order to be a successful forex trader? Let’s talk about that a more. Right now.

Hey there, Traders! This is Andrew Mitchem here at the Forex Trading Coach for video and podcast number 566.

Which trading Session should you look at?

Today I want to talk about trading sessions. A lot of people get confused and get this completely wrong. And they think that in order to be a successful trader, whether it be forex or metals or indices, whatever it might be, they think that they should trade what we call the trading sessions.

Now the Asian trading session was just based around Tokyo. Then we have the London and kind of that into European trading sessions and then the US trading sessions. And they tend to be the times when this the most activity within the market. And people get very confused and they think, well, I should only be trading the London trading session or I should only be trading the US session, or make sure I try and trade both of them, and it’s something that you do not have to do.

I used to be up all hours of the nigh trading the US session.

Now, admittedly, when I started to trade, I thought that’s what you had to do as well because that’s what people tell you you should do. But quite often in life, with most things and people tell you you’ve got to do this. The reality is that there’s a far better way of doing it by ignoring what they say. And there’s no better example than that.

Then for me, living here in New Zealand, the London session is in our evening into our night time, and the US session is the very early hours of the morning. Utterly impossible and unrealistic. Impractical to trade.

And just this week I’ve taken trades on the US30 and also on natural gas. Now the US30, especially being in a US index.

Traditionally, I would have thought, well, that means I have to be up at 2:00 in the morning to trade when the US markets are open and when natural gas, slightly less of a, an issue, but again, not a main forex what you call like a mainstream forex pair because it’s a gas and the metals, the gases, and the indices and a lot of the commodities as well tend to be based more around the US time of day.

Not particularly useful when you live on this side of the world. But really this applies to wherever you live in the world. If you’re living in, Europe, let’s say you got, well, I can’t trade the London morning session because I’m at work. you may be in the US and go, well, I can’t trade the London trading session because it’s like 4:00 in the morning for me. And so it doesn’t matter where you live in the world, the same concept applies.

Profitable US30 and Natural Gas trades.    

The thing is, with trades like the US30 that I took this week, and by the way, it was a very profitable trade. We had a 3.2 to 1 reward to risk on that, and we also had a 2.8 to 1 reward to risk on the natural gas, both for profitable.

So great results. the point being is I took both of those two trades based off the daily charts, and I took them at the close of the day, which is 5 p.m. New York time. Now, the great thing is, when you understand, close of charts, close a day charts and the close of a time friend chart.

That’s when you can look at your charts. When you add to that the fact that we use limit orders, you don’t actually need to be there at that exact time. So going back to the US30, when the, market then opened, I think it was 6:00, eastern Standard Time, maybe seven. I then, put on the sell limit orders to sell the US30 above its current price, the market.

Then, during that day, then worked its way back up, hit our sell limit entry orders, and then dropped and hit the profit target. So those trades took me, like, a couple of minutes each to see and take and place. And I could have placed those. Doesn’t matter where I live in the world, I could have placed those limit orders.

And that’s the absolute beauty of it. I didn’t need to be setting my alarm clock. Been up at 2:00 in the morning or 3:00 in the morning for the US trading session.

Trade on the close of a candle.

You don’t have to do that trade based off the close of a candle. And if you can trade at that 5:00 New York time in the evening, that time, that means you can also go through multiple other charts like we do each day.

We look at six, eight and 12 hour charts. depending on where you live in the world, you can look at close of, six hour charts or eight hour charts or 12 hour charts, which, by the way, at 5 a.m., New York time.

Now that doesn’t suit. And you go, well, it’s 5:00 in the morning because I live in New York. Well, if you place limit orders, you could place them at like 6 or 7 or 8:00 in the morning when you get up. And you can still take those traits. And so work your trading around your available time and what suits you. But once you know what you’re doing, you don’t need to have to sit there watching like so.

Five and 15 minute charts in the London session or in the New York session. Do the complete opposite, because the opposite is where you get your longevity and your enjoyment from. And also you’re going to get your, lot less stress and higher reward to risk trade. So remember, it’s about the quality of trades, not the quantity of trades that you have there.

My 17 minutes Masterclass and Book a Call.

If you’d like to find out how we do this, I strongly recommend you jump on to my 17 minute on demand masterclass session. I’ll put a link to that here.

If you’d like to, go ahead and book a call to have a chat with one of, myself or one of my team. I put a link that you can do that. Just fill out just a few questions, and then you can book a time to have a chat with us. If you’re in the US or Canada, you can talk directly with Paul Tillman, via that application form as well.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a very high quality forex broker, which also offers the indices and those metals and commodities and the cryptos that we talk about, I highly recommend you take a look at blueberry markets. I’ll put a link to them here as well. I use their MT5 platform. It’s fantastic. Just a massive array of different markets and, great people, great spreads and very fast withdrawals from your account. And you make your profits as well. So I’ll put a link to blueberry markets here as well.

Comments, Like & Subscribe.

If you have any other questions or topics, that you’d like me to cover on future videos and podcasts, just send me an email, [email protected], or leave a link if you’re watching on YouTube in the comments.

And don’t forget to like and share and subscribe, and I’ll see you this time next week. Bye for now.

In this video:

What’s the best time frame chart that you should trade as a forex trader? Let’s talk about that a more. Right now. Like.

Hey there, Traders! Andrew here at the Forex Trading Coach with video on podcast number 565.

What is the best time frame chart to trade?

Want to talk about a really important topic about different time frame charts. What is the best time frame chart to trade? It’s a an issue that so many people struggle with because they get confused when they look at different charts. And as an example, they may look at a daily chart and it looks like, let’s say the EUR/USD is moving up.

And then they go to a one hour chart and it looks like it’s moving down and they don’t know what to do. You get that analysis paralysis. Which one’s better, which one’s more reliable. Which one should I be trading. And I quite often get asked hey Andrew, what’s the best time frame if I just had to choose one? What is the best?

It depends on how you like to trade.

Now, unfortunately, there is no one best time frame chart. So really depends on you as a person and as a trader. You see, if you’re the sort of person that wants to sit there for 2 or 3 hours a day studying the shorter time frame charts, almost certainly taking a trade of some inscription then probably the shorter time frame charts are for you.

However, on the other hand, if you like to do other things and you want to trade, say just monthlies and weeklies and possibly dailies and you like those longer time frame charts, then that’s what you should be focusing on. But also for me as a trader, I think the important thing is to have a balance of both, because a lot of it comes down to not what you want to do or can do.

What I want to do or can do. It’s just it comes down to the market conditions at the time, and that’s the real important factor.

What is the market doing?  

What is the market going to give us today or this week for this month? That is going to give us a high probability chance of success. And that’s why for me, the answer to what is the best time frame to chart to trade is it depends.

And also you should look at multiple time frame charts. Now, I’m not saying you need to be there staring at your charts for like hours and hours a day. Far from it. You need to be smart about this, and you can trade multiple time frame charts looking for the highest quality setup by just looking at charts, just like, say, once or twice a day.

My preferred times of day to trade.

Now, if I had to pick one time of the day, that would be my preferred time. It would be at the close of the trading day, which is 5 p.m. New York time. Now that is when we analyze the markets and we post our daily chart trade suggestions, but also at that time we scan through the markets and look at 12 hours, eight hours and six hours because they close at the same time.

At the beginning of the week, you can look at the weekly charts. Beginning of the month you will look at the monthly charts. If I had to pick another time, it would be 5 a.m. Eastern Standard Time, New York time, because that’s into the European session. The 12 hours change over so as the 6,4,3,2,1 hour charts, but it depends on what works for you. And that’s why I look at the close of a candle.

My trading time frames this week.

Now to give you some examples, just this week I have taken, one trade on the two hour charts, one trade on the four hour charts for trades, on the six hour, four trades on the 12 hour, and only two on the daily and nothing on the weekly.

And so I found for this week that the you know, when you look at those figures, the six in the 12 hour charts this week have been giving us the higher quality setups. Now, I’ve also had I’m not sure if you can see behind me here. If you’re watching the video. A lot of profitable trades. Had a very good week so far.

just with a quarter of 1% risk per trade, I’m up getting close on 3% gain for the week. Still with two days to go as I’m recording this a day earlier than normal. And so again, it comes back to what is the market giving us. You have to trade the the strategy and the system with the chart that is giving you the best possible setup.

And that’s all depending on what’s happening in the market at the time. You know, you can find some weeks where the two and four hour charts are just fantastic. Other weeks, the two and four hour charts are not giving us very many opportunities in the dailies and the these are giving us the better trade. So I think it’s very important that you have a strategy that can be adapted, that can work against, over multiple time frame charts.

When I hear about people who say my strategy only works on a one hour chart and it only works on the EUR/USD, I would run a mile from someone giving you or suggesting or thinking that’s a good way to trade, because you cannot limit yourself to just one pair or handful of pairs and just say one time frame chart.

Why does it only supposedly work on that timeframe? Has it been over optimized curve fitted those type of things? The way that I trade it works across all the time frame charts. Look, I’ve got some people trading on one and five minute charts. Is that something I personally do? Not at all. But for the right person it works.

Now, of course you’d have to be selective on what markets and pairs you’re trading with those tight, you know, the tight spreads if you’re in and out of the markets on those short timeframe charts. But the point is, if that suits you and you see the conditions and you see the setups and it works, fantastic, go for it.

If you’re the sort of person that goes, I just want to look at the charts just once a week, well, trade the monthly charts and maybe the weekly charts. and you can do very, very well from those. It just have to accept that some weeks or some months there won’t be set ups.

Ideally trade a blend of different time frame charts

But again, it’s my preferred option is a blend. You trade a blend, you’re opening yourself up to more good trading opportunities and being able to be quite selective and pick what you see at the time is the higher quality trade setups. So I hope that answers the question for you. It’s also another reason why I never look at my trading, success in terms of pips. Completely irrelevant.

You know, you’ve got to make sure that if you’re trading a two hour chart or a daily chart, if you have a trade, that’s profitable. It’s going to risk the same amount on both setups, and it’s going to make you roughly the same amount. If you have a profitable trade. Doesn’t really matter which of those works or doesn’t work.

You have to have a similar reward to risk. Now, naturally, you’ll find that the bigger time frame chart spread becomes less of an issue. They tend to be slightly more reliable because there’s more data within a bigger time frame chart, and you tend to find you can probably get a higher reward to risk out of the trade. As opposed to, say, like a two hour chart.

But having said that, if the setups on the two hour charts and not on the daily charts. Take the two hour charts. If the setups are showing you on the daily or the 12 hour, take them on that. So be selective, high quality, be, quite critical with the trade setups that you take. You’re going to give yourself a higher chance of success and getting yourself a nice, smooth equity curve there.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to know how we do this and how we can help you to do the same, to know exactly what to look for, when to look for, jump on to my 17 minute on demand masterclass. I’ll put a link to that.

Blueberry Markets as a Forex Broker.

And if you are looking for a high quality broker, can highly recommend Blueberry Markets again, I’ll put a link to them here. I’ve been with Blueberry Market since I started and I found them absolutely fantastic to trade with. They’ve got a new copier service, they’ve got, you know, lots of new ideas in the pipeline as well, but also lots for you to use right now. Their MT5 platform covers a large array of different markets, both forex and non forex. Very fast withdrawals, very tight spreads. I can highly recommend blueberry markets. So if you’re out there looking for a broker consider them. If you’re not been on my masterclass have a look at that. Really think it’s a great investment in 15-20 minutes of your time.

Comments, Like & Subscribe.

And any questions that have that you’d like me to cover on future videos and podcasts like this, just drop me an email [email protected] or, leave a comment if you’re watching the video.

I’ll see you this time next week. Bye for now.

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In this video:

As a Trader. Someone gave you a system that had a 90% win rate. I bet you’d want to trade it. The reality is, you should not trade a 90% win rate system. I’m going to explain why right now.

Hey there, Traders! It’s Andrew Mitchem at The Forex Trading Coach with video and podcast number 564.

Do you want a 90% win rate system?

So you heard me right. If I said to you, hey, I’m sure you love my system, that’s got a 90% win rate, I. But you’re going to make lots of money and you get. Yes. Please give it to me. The reality is that you’re probably not going to make money off of a system like that.

Now, if you’ve been following me for any length of time, you’d know the story I told a real true story from a few years ago where someone came to me with a 90% win rate system, and they were very excited and it all looked really good. The problem was that they were losing lots of money because their focus was on win rate.

They were having, let’s say, out of ten trades, they were having nine out of ten trades hit their profit target, hence a 90% win rate system. But the trouble is they were making lots of small little gains. And every 1 in 10 trades had a massive loss that wiped out all their gains, plus lots more. And so that becomes the, the reality of it.

You know, you’ve got to be very careful with win rate. Don’t put all your focus into that because you’ll end up not doing, you know, what you should be doing, which is looking at things like control, risk, high reward to risk, looking at what the market’s doing at the time, looking at the pair you trading, the current conditions, all those type of things that mean that there are so much more to having a successful trading system than simply having a high win rate. High win rate is not necessarily good and in most cases is not good at all.

A traders comment about a high win rate strategy.

And this issue resurfaced just yesterday when I had someone come to me with something very similar to this. And I just need a high win rate system because that’s going to make me feel better and and it’s going to make me trade better.

And I tried to explain to them, look, the end of the day, you’ve got to make money out of your trading. That’s the important thing isn’t it? So why not focus on making money and doing it trading properly, than just being completely glued and fixated on this one thing? Because you find that with the people with 90% win rates, they do these crazy things like having there reward to risk run the wrong way, or have very structured and rigid, profits and stops which generally are not in their favor, as in they may have, let’s say that pluck some figured that this guy, you know, a 50 pips stop loss and a 20 profit target.

Now, if you know the way I trade, we never talk pips. But unfortunately, the people with the high win rate systems do. And so that’s their issue is they keep getting stopped out. And that reward to risk is not good. Or they’ll do something like they’ll have, a ten pip profit target and 110 pips stop loss. And you know, nine out of ten trades go well.

You’re one big one loses. And so having their focus around the wrong way is something that they don’t realize until they trade live. And they see that this 90% win rate system does not work

Focus on the quality trades.  

For me, focus on low and controlled risk on every trade. Forget about pips and ensure you have high reward to risk trades. Focus on trading with strength and weakness.

Now just yesterday I held a live European session webinar with my clients and we had the perfect scenario setting up. On the bigger picture daily bias. We were looking for some weakness in the New Zealand dollar and lots of strength in the US dollar. That’s exactly what we saw. And so when we’re looking at currency pairs, we were suggesting that ideally we should be looking at selling the New Zealand dollar against the US dollar if suitable trades present themselves.

Now just on that live webinar at the beginning of the session on the two hour charts, I took a sell trade on the NZD/USD, a beautiful continuation pattern. The market had dropped and pulled back looking like it was going to drop down again. We took the sell trade and within one hour we had a profitable trade.

At the end of the webinar, which was 5:00 am Eastern Standard Time, New York time, the three hour charts closed and we had a fantastic sell trade again on the NZD/USD on the three hour charts. And so we profited from both positions by trading the pattern, having high reward to risk. They had something like about a 2.8 to 1 reward to risk, and the trades were both profitable.

So, we have our risk control. We have a high reward to risk for trading the patterns we’re trading with the bigger picture strength, the weakness, analysis, everything. All the all the factors that we look for were all suggesting you have to take this sell trades. And that’s what we did. And that’s what we, profited from those.

So that to me has a far more significance in terms of, your overall profitability and common sense within your trading and then just focusing on, hey, I need to 90% win rate system.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to find out more about how we do this and how we can help you to become a successful trader, have a look at my 17 minute On Demand masterclass. I’ll put a link to that here.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a quality forex broker, I can highly recommend Blueberry Markets. They based in Australia, and you can open an account from pretty much anywhere in the world is a few countries that they cannot take, but pretty much everybody else they can take. And I strongly suggest you have a look at their MT5 platform.

It’s the one that I use. And I’ve been using Blueberry Market since they started. They’re a great bunch of people. great spreads, great communications, very fast, fun withdrawals as well, and a massive array of markets on their MT5 platform. I’ll put a link to blueberry markets here as well.

So, hope that helps. Make sure that you focus on the quality of your set ups and your overall strategy, and remove that focus from having to have a 90% or higher win rate system is probably not going to work out in your best interests in the long term.

Comments, Like & Subscribe.

Hope that helps. any questions that have any trading topics you’d like me to discuss like this on future videos and podcasts? Send me an email [email protected] or leave a comment if you’re watching on YouTube. I’ll see this time next week. Bye for now.

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In this video:

How’s your trading year been so far in 2024? We’ve got just three months left of the year that generally good trading months. What are you going to do to make sure you have a great final quarter of this year? Let’s get into that a more right now.

Hi there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 563.

Great trading conditions ahead.

What has happened to this year? It is just absolutely flowing past. I know we say it every year, but this one seems to be even quicker. We’re now into the last quarter of the year. We’ve been through that northern hemisphere summer time with July and August are sometimes a little bit tricky to trade.

And now we’re into the last quarter. I think we’re going to get some very favorable trading conditions because of all the events happening in the world. And generally October, November, December give us very good trading conditions, and that’s what we need is traders. We need movement, we need volatility and we need to take advantage of that.

How has your trading been this year so far?

So my question to you is this how are you trading been so far this year. We’ve been trading since January. We’re now into October. How has that first nine months of the year been? Has it been like pretty ordinary, pretty average for you? Is it been really good? If it’s not been great, what are you going to do to make sure that you finish the year with better and improved results? What is it that you’re going to do?

Have you not met your trading goals? What needs changing? Have a think about that, because honestly, I think that October, November, December, the conditions generally are good. I think with everything happening in the world, we’re going to get we’re going to see some good market movement. And it doesn’t matter where we’re on the currencies or the metals indices, cryptos, the commodities, I just see great conditions.

So let’s take advantage of that together. Make sure that you are doing everything you can to, take advantage of the end of the year in these great conditions.

What do you need to change?  

But it really also, I think, is important that we reflect so far that we’re three quarters of the way through the year. What needs changing from your point of view if you’re trading has not been quite as good?

What do you need help with? What do you need to change do differently? Because let’s face it, we continue doing the same old thing. Guess what? The next quarter is going to be the same old thing, and you’re going to get to the end of the year and you’re going to be disappointed. so I think it’s really important that they take advantage of these likely good conditions, but maybe change something in your trading if we can help.

Let me know. let us know. Leave a comment. ask questions because we’re all about helping traders worldwide. On our course, we have clients in 108 countries. You know, we’re a global community about helping people. So I think it’s really important that you reach out and ask questions. And even if it’s like other topics you’d like me to talk about and discuss on these videos and podcasts, I’m more than happy to do that because we want successful forex traders.

But also if you’re out there and you go, look, Andrew, I’m just trading cryptos or metals, then my strategy, the logic that we employ, works on all those different markets. And that’s the beauty of it. One strategy, multiple markets, multiple time frame charts.

Book a call to talk with Paul Tillman.

If you’re in the US or Canada, I’ve got some great news for you. Paul Tilman, who works with me. He’s been with me since 2015 when he started as a client. Paul did so well that I had to have him on board as part of the team. He runs our US Clients Webinars, he helps to moderate forum and he helps, look after people during the, US time zone. If you like to have a personal chat, a one on one chat with Paul.

If you’re in the US or Canada, let me know and I can send you his details and book a time with him. I can give you his email address and his personal phone number so you can book a time if you’re serious about your trading and wanting some help. and you’re in the US or Canada. Let me know.

[email protected] or send me a support ticket or put a link if you’re watching the video and I’ll send you through post details. It’s more than happy to help you with your trading. If you’re serious about trading, I want to make it work for you.

A link to our booking calendar.

If you’re outside of the US or Canada and you want to book a time with me or one of the team, I’ll put a link to our booking calendar as well. Fill out a very quick application form, make sure that we’re suitable for each other, and then book a time, and we can have a call to make sure that we can help you with your trading and take it forward with your trading in progress, so that you’re enjoying your trading and you knowing what you’re doing.

Join my free Masterclass

If you’ve not been on my 17 minute masterclass, I strongly recommend that you do that. Turn off everything. Just turn off all your, you know, emails and phone and Facebook and all that. Just focus on 15-20 minutes on the webinar and you got to learn so much from it.

If you out there looking for a high quality forex broker can highly recommend Blueberry Markets. I’ve personally been with them and have funds with them and been with them since they started.

They’re great bunch of people. I’ve met them in person. I contact them regularly each week. We’ve sent hundreds, if not thousands of people through the blueberry markets, and we always hear the same feedback. They’re great people, exceptional service, wonderful platform, lots of different markets, tight spreads, everything that you’re looking for from a forex broker. Plus they have the other markets on MT5 such as the commodities, the cryptos, the indices, metals, etc. that we talk about all the time.

Blueberry Markets as a Forex Broker.

So if you’re out there looking for a broker, put a like give some thought and have a look into blueberry markets, I’ll put a link to them here so you can go and check them out and decide for yourself if you’d like to go with them. But honestly, there’s so many. I’ve had about 5 or 6 different brokers emailing me just this week because I know Andrew, would you help promote us?

And I say to them, no, I only promote people who I personally like, and I personally have used myself and I’m satisfied that I can then go and say, hey, here’s someone I think you should consider. Blueberry markets are definitely one of those companies, so have a look at them. Have a look at the link I’ll put here.

If you’d like me to discuss any topics or trading questions that you have, just reach out to [email protected]. Put the link here for you. I’ll put a link to that as well.

Comments, Like & Subscribe.

If you’re watching, on YouTube or some format on video, fill in the comments with your topics and I’ll cover them for you.

Finish the year strongly

But look, let’s make the next three months. Like I said, that generally pretty good trading conditions October, November, December. With everything going on in the world, I think they’re going to be very volatile. Lots of movement, exactly what we want. Take advantage of that. Know how to trade properly with low risk, high reward to risk and to know. Look at your charts and know exactly what to do and why and when.

If you need help, we’re here to help make it work for you. I hope that helps. This is Andrew here at the Forex Trading Coach. I see this time next week. Bye for now.

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In this video:

I’m going to explain this week why live trading room webinars work and how they can massively help you with your trading success. So let’s talk about that a more right in that.

Hi there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 562.

You need someone to show you how to trade.

Now different ways of learning how to do anything. whether it’s trading or for me doing karate or learning to fly a helicopter or a guitar, whatever it is, you need someone to help you and to show you and to be able to refine things and trading’s exactly the same.

You see, you can go online and you can look on YouTube in different places and you can have video course just like our one, and you can go through and read things and see some videos, and that’s all well and fine. But the trouble is in trading is to make any money in trading, you have to have the ability to do this in real time.

You know, it’s all well and good looking through some books and seeing some waves and retracements. And we did this at this point and look at this massive trend and you know, and there’s so many videos and I see with millions and millions of hits on YouTube, but all they’re doing is showing you with hindsight what happened.

We trade and post in real time.

And the reason that we do so well, as do our clients, is we do everything in real time. We’re not about hindsight. We post our trades every day for people to follow in real time. We put our trades on our forum site on the shorter time frame charts in real time, and every week we hold a live two hour trading room webinar one weeks in the European session with myself. The following week is in the US session with Paul Tillman, who lives in the US.

Live webinar trades make +2.1% gain.  

And yesterday I held a live European session, webinars, a two hour session where all our clients can jump on to, they all get recorded as well.

So if you cannot attend live, you can go and watch the recording. And by the way, we have all the recordings dating back to 2010 on our website. So vast amount of very valuable information now on the webinars. The beauty of them is they are live. There’s no like cherry picking the hand, picking the best trades. you know, we’re talking about trades, we’re discussing trade set ups, etc. live in real time. And obviously no one knows the result of what we are saying, we are taking.

Now on yesterday’s session at the end of the webinar, which ended at 5 a.m. Eastern Standard Time, which is in the European session, we took some trades and I posted and took three trades in front of our clients. We had a EUR/GBP 6 hour chart trade sell. Which had a beautiful retracement and hit the profit target, both positions hitting the profit target.

We had a Netherlands 25, the index 2 hour charts trade one position got filled and it was stopped out. And we had a, two hour trade on the gold against the Australian dollar. Both positions got filled and hit their profit targets.

Now the EUR/GBP made a 2.7 to 1 reward to risk a 1.35% gain. the Netherlands 25 lost a quarter of 1% because it was stopped out and the XAU/AUD had a 2 to 1 reward to risk or 1% gain.

That gave us with only a half percent (0.5%) risk per trade total split over two positions. That gave us a net gain of 2.1% on our account. So 2.1% over three trades taken at the end of the session live in front of everybody, so all our clients could follow along and take those trades and learn from them as well.

And that’s the beauty of this. It’s about doing this in real time, where we discuss the trade setups and we take the trades, and we encourage people to talk about what it is that we’re looking at at that time to say, yes, this is a good trade on. No, this is maybe not such a good trade, of which we did have a couple of those as well that were almost, but not quite as good as we are looking for.

This is invaluable information.

And so you cannot beat that information. As someone watching and learning and participating, you’re part of the community. You’re watching a full time trader explain the system of why they’re doing what they’re doing, so you can learn in real time.

Again, I go back to my karate days. You know, I could watch videos all day long, but unless I get an instructor saying, hey, just do this, just move this way. Just rotate your arm this way, just pull your toes back when you’re doing a kick just to do these things differently in real time with a real person there, you cannot beat it. Same as the guitar. Right now I’m learning the guitar. Yes, I can do some online. exercises and learn a few different things, but if someone set, there they go.

Hey, Andrew, why don’t you just try this or move the finger this way or strum this way? Definitely. Or change you chords from here to here instead of, like, the traditional way. All these little nuances that will massively help you.

And again, trading is no different. You need someone there to hold your hand to show you this is what we’re doing. Yes, you could do this, but if you do it this way, it’s a little bit better and you can improve things in fast track things.

Now obviously with trading, you’ve got your mindset and your loss of money. If you’re not doing this well. And again, very valuable to be able to have someone there to help shortcut those things and, eliminate those errors and improve. And that’s exactly what we do.

My 17 minutes Masterclass and Book a Call.

So if you’d like to find out how we do this, I’ve got a short 17 minute on demand masterclass, which you can log in and view at any time, and I’ll put a link to that.

If you’d like to book a call to have a chat with one of us personally, for about a 30 40 minute chat, you can do that. other with myself or one of the team.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a very good broker, I took all those trades on Blueberry Markets and including the, the XAU/AUD, which some brokers won’t have, including the Netherlands 25. Again, which some brokers won’t have. Blueberry on MT5 have them all and I’ll put a link to Blueberry Markets as well.

Comments, Like & Subscribe.

Don’t forget if you’re watching to like and share and subscribe any topics or conversations you’d like me to cover for you in future videos and podcasts just like this.

Please send me an email Andrew @TheForexTradingCoach.com or leave a comment and I’ll see you this time next week. Happy trading. Bye for now.

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In this video:

What’s the best way to enter a new trade to make sure that you get the best possible outcome? Let’s discuss that really important topic and more. Right now.

Hi there, Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 561.

How to best enter a new trade.

Today I want to talk about how you can enter a new trade and how you can get the most out of your trade by doing a few clever things. So there are a couple of options that we have, or three really.

you can enter what’s called a market order, which means you jump into the trade straight away, and it’s what most people do. or you can use a stop order. And for a stop order, it means on a buy trade, you’re buying above the current price. And for a sell trade, it means you’re selling below the current price.

Or you can use a limit order or a retracement order. And a limit order means on a buy limit. It means that you’re buying below the current price. And on a sell trade, it means you’re selling above the current price.

I mostly use Limit Orders.

Now, I’m a big fan of limit orders, and this how I place the vast majority of my trades. And the reason I do that is because I know that the market is not a straight line. You have a look at most charts and most markets and most timeframes, and you’ll never see, a perfect straight line. You will never see a candle close and the next one just open and go in the perfect direction. Most times you will find there will be some form of upper or low wick on a candle, and there will be some form of, movement.

Let’s say the market’s moving upwards. and a candle opens most times within that candle’s, formation. Let’s say it’s either H4 chart or our daily chart or whatever it is. Most of the time it will go up, it will come back, it will go up again, maybe come back again, and then finally go up. so you get retracements all of the time in pretty much every market and every time frame.

The benefit of using Limit Orders.   

And so by using limit orders, what it does is it means we get in at a better price. It means that we, on a buy trade, we see the market at a certain level. That means we have buying if it pulls back to a lower price first, and if the market then heads turns around and heads in our anticipated direction, by the time it gets to where the candle opened, you’re already in good, positive territory.

And by the time it gets to a profit target, you’ve made really good money. Now, what that does is it drastically improves the reward to risk that you get out of your trades. So go and have a look at any chart and you have a look at let’s say you imagined, you took a trade at the market as soon as the next candle opens.

And then you have a look at how much you’re going to make in terms of your stop loss, your profit target, and the reward to risk from that trade. And then do the same thing again with that same setup. Go, okay. But if it’s moving up and it’s buying, what happens if I bought below the current price and I’m first, looking for the market to pull back now of course, for the limit order, you’re not sat there waiting for all this to happen.

You’re just simply saying I’m putting a buy limiting at this price. And if the price pulls back, it gets you filled and then hopefully moves up in your anticipated direction. So have a look at how many times that happens. I think you’ll be amazed at how often that happens if you have a good setup.

Other things which add to a trade setup.

Now, a few other things that we add to that is let’s say again, assuming we’re buying, we’re buying below the current price.

If the, buy limit order is just above, let’s say a round number of previous swing low or the pivot point or some form of support level below it. Quite often you’ll find that the price will come down and get filled. And that support level, whether it be a swing low to the left or right number below it, will hold.

And the price then turns around at that level. So you’re not only entering just simply because it’s below the current price limit order you’re ordering. You’re taking that order with some safety net below you to look for the price to bounce and then move up again. So all the time we’re adding more and more layers of confirmation and confidence to our trades to give ourselves a high probability chance of a successful trade.

So have a good look through your charts. Consider using limit orders. It will massively improve your returns and the reward to risk that you get out of your trades.

My 17 minutes Masterclass and Book a Call.

If you’d like to know more about how we do this, have a look at my free on demand masterclass. It’s only 17 minutes. It’s really quick. It gives you a lots of just fast paced, information about how we trade. Some chart examples and how we can help you with your trading.

And if you’d like to book a call with either myself or one of my team, you’ll find the link on here on this, video podcast. To be able to book a call up and have a chat with us about your trading and how we can help you.

Blueberry Markets as a Forex Broker.

And finally, if you’re out there looking for a high quality broker and highly recommend Blueberry Markets, they based in Australia, but they can take clients from most countries around the world. They have the MT4 and especially the MT5 trading platform, which has multiple time frame charts, multiple markets, both forex and non forex markets. Great bunch of people. Brilliant in terms of their customer service, their execution of returning, withdrawal funds etc. like that. great spreads lots of markets, lots of choice. I’ll put a link to blueberry markets as well.

Comments, Like & Subscribe.

If you have any questions or topics you’d like me to talk about and discuss for you on future videos and podcast just like this one, send me an email [email protected] or add a comment if you’re watching this on YouTube.

I’ll see you this time next week. Bye for now.

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In this video:

I’m going to give you my top five traits of what it takes to become a successful, profitable and independent forex trader. So if you’re not yet profitable, you need to listen to these five traits and adapt them and adopt them as part of your trading plan. Let’s get into that a more right now.

Hey there, Traders! It’s Andrew Mitchem here, the owner of the Forex Trading Coach. For video on podcast number 560.

My Top 5 Traits I see in profitable Forex traders.

So today I want to give you my top five traits of where I see, profitable forex traders what it takes to become a profitable trader but also independent profitable forex trader. you know, without copying and following other people all of the time.

Now of course, when people are new, it’s great to be able to do that. But over time, you want to be able to do this for yourself without the reliance on another website or another person. And that’s what I call a successful trader. Now, I’ve been trading the forex market for over 20 years full time, and I’ve been coaching for over 15 years.

We’ve got clients in 108 countries right now. So I’ve got a fair bit of experience and I’ve seen all sorts of different types of people come and go, and I know what it takes to become a successful trader.

#1 They know and understand their strategy.

So first thing is, number one trait of a successful and profitable trader is they know their strategy there now inside out, upside down.

Now they may have created it. like I did. They may have purchased it like you can do for us at The Forex Trading Coach. a proven strategy, however it happens. They know and understand that strategy. They know it completely. They know the ups and downs of it. They know all the details, but it allows them to trade with confidence, knowing that that strategy has been proven over time.

And so having that complete confidence and faith in what they’re doing is absolutely crucial. You wouldn’t believe how many people I get come to me that have got these strategies. And I asked him a question and they don’t know the answer about it because they don’t really know what it is they’re looking for. And so the number one trait, you have to have a strategy that suits you as a person and as a trader and your available times, etc.. That’s been proven over, you know, a long period of time to work across multiple market conditions and changing conditions. So number one, confidence and ability to trade your strategy is absolutely crucial.

#2 They understand money management and risk.   

Number two, you have to understand money management risk management. You have to trade with low risk per trade. Forget about pips like people that make x number of pips or risk x number of pips per trade.

It’s never going to work. You have to understand the market and you have to, trade with a stop loss. That’s, correct. For that time frame of the chart, the movement in the market right now, the pair that you’re trading, etc.. So when you have a trade. For me, every trade I take has a very low equal.

It’s a predefined risk level as a percentage of my account. And so whether my account $1,000, $100,000 or I’m trading our prop firm with half of million, it does not matter. I trade the trade. Its risk is always x percent of my account. And so as your account starts growing, you’re risking more money per trade. But it’s still the same percentage.

Likewise, if you end up having some losing trades and let’s face it, everybody does. As your account starts going down, you’re risking a smaller amount per trade, but it’s still the same percentage of your account balance. So understanding that and also it extra things like you know not doubling up on trades and people potentially using martingale systems and all these type of things or no stop loss at all, or different stop losses depending on the time frame of the chart.

All these small things, to me, all of that doesn’t work. You have to have low control, equal risk on every single trade. High reward to risk. So when you have profitable trades, they’re making like 2, 3, 4 or 5 times your risk. So that’s really important.

#3 They are dedicated traders.

The third point I see the dedicated traders as being the successful ones. You’ve got to be dedicated. You’ve got to stick to your plan. Except there are ups and downs and be consistent in what you do. Now, the market is never consistent. There will be times where you have, profitable days, losing days, profitable weeks or even months and losing weeks and months is just happens. It’s part of trading, you know, it’s not a straight line.

So you have to be accepting of that. But you have to be consistent in showing up. You cannot be one of these people who goes.

#4 They remove emotion from their trading. 

And this brings into point number four, which is, successful traders are not emotional when they’re trading either. So three and four kind of combined as in, you can’t have let’s say, run a winning trades and then you do something stupid and you just think the market’s just going to be wonderful, and and then you’ll fail all the time and then you go and blow it.

Likewise, if you have a few losing trades, you can’t get, I’m just not going to trade. The market’s not in my favor. It’s all against me. And you don’t stick to your plan and you miss out on good trades. So having that consistency of showing up, doing the same thing all the time, when you see the pattern that you’re trading or whatever it is that you’re looking for, you take the trade.

You see the trade, you take the trade. And when it comes to the emotion and I’m point number four, I like the phrase of I like because I’m a technical trader. I like to trade what I see and not so much what I think as in you can read the news, you can hear news events, you can listen to, you know, TV, radio, internet commentary, whatever it might be.

And you sometimes run into that danger of thinking this is going to happen. Now. Classic example might be cryptos or metals. Everybody says our gold is going to go up or Bitcoin’s going to go up. And so everybody’s just thinking, oh, I’m just going to buy those. And they may have according to the plan in their strategy, the perfect sell trade.

And they’re not taking it because or they’re risking, you know, they’re taking a smaller position size or something like that. So trade what you see. the market’s going to do what the market wants to do, regardless of what you think I think or anybody else thinks. So trade what you see that’s really important that you do that and keep your emotions out of it.

You know good trades will happen. Losing trades will happen. So keep your emotions low. Trade like the patterns. Play the game. It’s probabilities. You know, there’s nothing absolute 100% certain in any form of trading strategy at all. Even an A plus set up will sometimes lose just the way it is.

#5 Don’t reinvent the trading wheel but be adaptable. 

Point number five don’t reinvent the wheel. But also a good trader is adaptable to change as well. Now, what I mean by that is don’t reinvent the wheel. That when you have a strategy that works, if you have a few days or a week or so that it loses. Don’t go reinventing the wheel. Don’t go out there searching for the next system or adding the next indicator, or adding the next expert advisor.

And all these things don’t do that. If you’ve got a strategy and a system at work, stick to it. But also what I mean by being adaptable or the classic example is this over the last number of years and you have heard me talking about this, we have added, more currency pairs to what we have available to trade.

And that’s thanks to the brokers. on MT5 there’s more time frame charts. There’s more markets, like a lot more metals. That used to be just gold and silver. And now it’s like XAU/JPY, XAU/GPB, XAG/AUD, etc. like that. You can have like the coppers, you can have the indices, you can have the metals, you can have, you know, like I mentioned a few weeks ago, sugars and coffees and things like that.

So you’ve got Hungarian Franc, you’ve got Norwegian Krona, you’ve got Swedish Krona. So you’ve got all these other, forex pairs, and other markets and more time frames like, 4 hour charts and 6 hour charts and 12 hour charts. You know, to adapt to the market of what we have available. Yes, is good, but don’t go reinventing the wheel and trying to create something just because you’ve had a few losing trades. So you put those five points together, you’re going to give yourself a really great chance of success.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to find out more about how we trade and how we teach and how we can help you, have a look at my masterclass. It’s a 17 minute On-Demand free masterclass. I’ll put the link to it so you can jump on board and watch that when it works for you.

If you’d like to book a call with me or one of the team, I’ll put a link to that. And you can, have a 30 40 minute, chat with us to decide if we’re the right fit for each other.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a really good broker, I can strongly recommend you have a look at Blueberry Markets.

I’ll put a link to them as well. They do offer MT4, but also more importantly now MT5. they’ve actually got a new prop them running as well, which has been running for the last few months. And with their MT5 platform, you do have access to so many of those extra markets, plus time frame charts that I talked about.

So I hope that helps. If you’re not profitable right now and you want help, please do ask and seek help. And, we have, as I said, a strategy that I’ve been, trading myself for about 17 years now, trading myself for 20, getting close on 21 took me close on four years of making nothing before I developed what I have now, teaching for more than 15 years.

So it’s well and truly proven. If you if you’re lacking the strategy and the confidence in your strategy, we can certainly help you there when it comes to risk management and emotion and things like that. All of that combines, by the way, if your risk is low and controlled, your emotions are under control. The whole thing all blends in together.

But you put those five points together, you’re going to give yourself a very high chance of being a successful and independent forex trader.

So this is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week. Bye for now.

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In this video:

Would you like to fast track the amount of time it’s going to take you to become a successful and profitable forex trader? If you want to shortcut your time, listen up. I’ve got some great tips for you coming up right now.

Hey there, Traders! Tt’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 559.

It took me 4 years to become a profitable trader.

Now some of you may already know my story. If you don’t. Back when I started trading, it took me around four years to become what I would call a profitable trader. That’s a very long time. Lots of long hours staring at the charts, lots of reading information, lots of buying different products and following people and, you know, in the early days of expert advisors and, automated systems and creating my own and creating my own manual systems and following all sorts of people.

Anyway, as you know, it’s a slow, long, tedious and expensive process, and all you’re doing is tearing your hair out because you know that really the next greatest latest thing. Fantastic. Yes. And then it doesn’t work. And I went riding around, around on the old hamster wheel for four years before I realized I needed to make this work.

And I sort of stripped everything off my charts. And I started to look at price action and candle patterns and and basically developed my own strategy. Yes, I pulled a few things here and there from other people that I followed. but I basically developed something that worked for me. And to this day, I’m still using that exact same trading strategy, and it’s very profitable.

And over 15 years of teaching at The Forex Trading Coach, we’ve helped thousands of thousands of traders from now 108 countries. So, it works. I think it’s worked across all market conditions and over all that length of time. So that’s a great thing.

We post specific trades every day based on the Daily charts.

Now to help people that come on board with us, one of the things that we do here at The Forex Trading Coach is we post specific trades each day based off the daily charts.

I’ve done this every trading day since 2010, like we stop for Christmas and Easter, things like that. But apart from that, we post specific trades every single day. We look at the daily charts when they change over, which is 5 p.m. Eastern Standard Time. That’s New York time. And we then analyze the charts and we scan through all the daily charts.

I mean, originally it was just a forex markets. Now we look through the metals and the indices and cryptos etc. as well. And we go through and we analyze the markets and we take trades based off those daily charts. Now each day there are no day, there are no trades, but most days they’re sort of between one and maybe 4 or 5 trades.

Today, for example, is just one. But it’s non-farm payrolls day in America on Friday. So very cautious of what we’re trading today. But we scan through the charts, we look at the patterns that we’re looking for and we say, here’s a trade. And we’re saying here’s the currency pair, that we’re trading, the direction we’re trading. And then a paragraph of reasons why 4 or 5 lines of why we are taking that trade based off all the things that we we know and we teach as part of the strategy, we also put the exact entry and exit levels that we’re taking.

We’re saying we’re taking it, if it’s a buy trade or buy limit order. So to buy below the current price here, we’ll stop loss there and the profit target there. And we also take a market order with the stop loss there and the profit target that all the levels people would know because they’re all part of the course of how we use our, price projections and stop loss levels, etc..

But by putting that on there, it’s saying this is what we’re doing in real time, no hindsight benefit, no economist stuff. This is what happened yesterday and this is what we might have done. This is in real time every single day. Now those daily trades, every year since 2010 have been profitable for ourselves and our clients.

So we call it like term. You can earn while you learn really important that you’re actually earning some money, of course, to start with, but also almost as important, probably, if not more important, you’re learning and you’re learning to train your eye in real time to see the patterns that we’re trying taking and the reasons why we’re taking those trades.

Now, some of those trades will get stopped. And of course they will. Part of trading. Just natural, part of trading. You have to accept that. But we have, risk management, which I talk about all the time with low controlled, equal risk. And we know that if our trades hit the profit targets, then they make sort around the sort of between the two and a half, three and a half to one reward to risk depending on the trade.

So that is there for our clients no matter where they live. In those 108 countries around the world, all on different time zones, etc., everybody can take those trades and earn from and learn from them.

W1 and MN1 chart trades.   

Now, beginning of each week, we also post exactly the same of a weekly chart at the beginning of each month, exactly the same off the monthly charts, and then on a day by day basis, we also scan through the 12, 8 and 6 hour charts as they change over at that start of the new day, and we post trades on that.

But it’s the daily chart trades, the ones that everybody can follow along, very specific trades, lots of learning, paragraph of reasons, entry and exit, etc. All there for clients to follow.

Live weekly webinars and our Forum site.

On top of that, of course we have webinar each week a live 2 hour webinar. just last night was a US session webinar that Paul Tillman took over in the US.

For the people on that side of the world and that time zone, I, take the European session by evening, European morning session, the alternate weeks on those sessions, we, are taking trades live trading on live accounts. We also post trades on a forum site as to our clients. But the, the important thing to understand is if you have somewhere that you can log into once a day and see a trade or a number of trades, and you can see them on your charts in real time, and you can see why we’ve taken them with the understanding, the explanations, and you’ve got your exact entry and exit levels there again, which

You know anyway, all taught in the course. Well, what it’s doing as it’s building confidence. You can then start to, over time, scan the charts and see if you’re going to pick the same trades as we pick. And it’s building confidence. So you have the ability to trade the system and the strategy for yourself in real time and to be profitable and successful.

And that’s what it’s all about. So that process, I wish I had that because like I said, it took me four years of going round in circles, going nowhere. I wish I had someone to follow. I wish I had specific trades to follow and to understand why they’ve been taken, and then not just to follow, but to build on from that and to be able to do that for myself.

And that’s what we’re about The Forex Trading Coach, we’re about teaching someone to fish where to start with we got here’s a fish, you know, feed yourself on the fish to start with. But we’re about teaching how to fish so you can become an independent and successful trader.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to find out how we can help you do that, click on the link below that you’ll find for my free 17 minute masterclass.

If you’d like to book a call with myself or one of my team, I’ll put a link to that as well.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a really top, top, broker, great bunch of people. they offer the MT4 and MT5 platform. I can highly recommend Blueberry Markets they base over in Australia. I’ve been with them for years as a lot of my clients, use, or choose to use Blueberry Markets. I’ll put a link to them as well, and you can find out more about them if you’re out there looking for a good broker.

Comments, Like & Subscribe.

Don’t forget to like, subscribe, share. As my screen has gone off here now, that tells me we’re probably at the end of the video and, any questions you have, about any topics you like me to discuss on future videos and podcasts?

Just let me know. Email me directly [email protected] or leave a comment on, here. If you’re watching this on a video, I’ll see you this time next week. Bye for now!